Advantages And Disadvantages Of Owning A Condo Unit

Condominiums have become a very popular type of philippines homes in the market today. Although many may still dream on owning their own typical house in the suburbs, many Filipinos have opted to buying their own condominium before owning a house. So what are the advantages of owning a condominium rather than any other types of housing in the Philippines?

Advantages

Affordability

According to many people, the reason why condominiums became popular was with their affordability. Although condominiums are recognized for their luxurious living theme, condominiums are known to be more affordable than houses sold in most cities, such as in Manila. And unlike townhouses, condominiums are much more affordable.

Location

Another great advantage of owning a condominium is its location. Most condominiums available in the market today are those found near business districts and commercial areas. This allows its residents to be within walking or mass transit distance of business and industrial areas of the city. Another popular location of condominiums are those found in provincial areas. This adds to a condominium's luxurious quiet life.

Amenities

Another popular trait of most condominiums today, particularly the condominium, complexes are its amenities. Most condominium complexes in the Philippines today have their own resort facilities such as swimming pools, gyms, parks and playground equipment. Condominium buildings, on the other hand, doesn't possess such amenities, however, some are known to have their own gyms and other types of amenities.

Maintainability

One popular advantage of owning a condominium is its maintainability. Unlike owning other types of philippines homes such as a house, condominium are known to have their own maintenance personnel that maintains a condominium's livability. Other than exterior, because of its typical small size, people wouldn't have to worry about cleaning.

Security

Security is one of its most popular feature. Most condominium complexes and buildings have their own security personnel that maintains peace within a compound or a building.

Disadvantages

However, other than its advantages, there have also been several disadvantages to owning a condo unit. One is the size of its unit. Most condominium units are known for their small size. Although perfect for a small family, the parents and a child, bigger family with 3 and more children would find it unsuitable.

Other than monthly electric and water bills, as well as mortgage bills, condominiums are also known for their monthly fees. Unlike other types of philippines homes such as a house, these fees are used to maintain a condominium's livability as well as with its security. It is also used as wages for maintenance and security personnel.

Deirdre Gonzales is a business entrepreneur from Cebu City Philippines. She's now based in Florida and writes in her spare time for various websites including Atayala.com

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